USD/CHF allows a small retracement – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, believes occasional pullbacks represent buying opportunities.

Key Quotes

“USD/CHF has just held sideways and this has maintained upside pressure”.

“But on the 240 minute chart it is starting to erode its uptrend and the intraday momentum indicators are diverging – not enough for failure but enough for a small retracement, so we will not chase this higher at this point and will instead wait to buy the dips”.